Tuesday, October 25, 2016

Should I Buy Or Should I Rent

To Buy Or Not To Buy?

The answer depends on many factors including your age, geographic location, current debt.. The best bet is to come in and crunch the numbers.

Below are some findings from recent studies that might help you:

  • People with responsible mortgages increased their net worth on average by $20,000 over three years compared to only $15,000 for those who rented.* 
  • For some people saving money is tough so buying a home can act like a saving account. 
  • Aside from the potential financial benefit, owning a home provides security and a sense of pride and accomplishment. 
  • Federal income tax benefits from owning a home can be substantial. The ability to deduct mortgage interest and property taxes is the most apparent of these benefits.** 
  • Current low interest rates increase the profitability of homeownership*** 
  • A home "is inflation-protected and a physical asset that doesn't disappear like stocks can do."*** 


*A report published by The Brown School’s Center for Social Development 

**Harvard University, Joint Center for Housing Studies 

***http://money.usnews.com "Why Buying a Home Is a Smart Investment for Millennials

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